Research Nester published a report titled “Display Component Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global display component market in terms of market segmentation by technology, panel size, and-products, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global display component market is anticipated to grow with a CAGR of 3.5% over the forecast period, i.e., 2021 – 2029. The market is segmented by technology into LCD display, LED display, OLED, plasma display, and others, out of which, the LED display segment is anticipated to hold the highest market share throughout the forecast period and also attain the largest market revenue of USD 184609.8 Million by the end of 2029. Further, the market is also segmented on the basis of end-products into monitors, laptops, televisions, smartphones, tablets, automotive displays, and others, out of which, the smartphones segment garnered the largest market revenue of USD 133035.9 Million in 2020 and is further projected to retain this position by attaining a marker revenue of USD 168789.8 Million by the end of 2029.
The global display component market is estimated to garner a revenue of USD 386173.3 Million by the end of 2029, up from a revenue of USD 283894.8 Million in 2020. Increasing sales of smartphones, rise in the adoption of TV units, and the increasing use of displays in several medical equipment, are some of the major factors anticipated to drive the market growth during the forecast period. The market is segmented by geography into North America, Europe, Asia Pacific, Latin America and Middle East & Africa region, out of which, the market in Latin America is anticipated to garner the largest market revenue of USD 173985.2 Million by the end of 2029, up from a revenue of USD 131152.2 Million in the year 2020. Moreover, the market in the region is also anticipated to grow with a CAGR of 3.2% during the forecast period.
Increasing Smartphone Ownership to Create Opportunities for the Growth of the Market
The Pew Research Center, in one of its statistics, stated that smartphone ownership in the United States reached 85% on February 7, 2021, up from 35% on May 21, 2011.
Smartphones nowadays have become an integral part of human beings. The hand-held device, which is also a mini computer to many, utilizes different types of displays so that the user can access the different functionalities of the device. Backed by the increasing adoption of smartphones globally, the demand for display components is also anticipated to increase, which in turn is expected to drive the market growth during the forecast period.
However, the availability of alternatives is expected to operate as key restraint to the growth of global display component market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global display component market which includes company profiling of LG Electronics, Innolux Corporation, NEC Corporation, Panasonic Corporation, AU Optronics Corp., Sony Corporation, Samsung Group, Leyard Group, BOE Technology Group Co., Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global display component market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.